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Parcel delivery service Instabox has quadrupled its revenues in Sweden last year. Sales went from 6 million euros to 24 million euros. At the same time, the number of users grew more than 150 percent. Currently, over 2 million people in Sweden use the company’s parcel locker solution.
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In 2019, Instabox generated revenues in Sweden worth 63 million Swedish krona (6.14 million euros). One year later, revenues were worth almost four times as much as they increased to 246 million Swedish krona (23.99 million euros).
Twice as much automated parcel machines
During that year, Instabox more than doubled its number of automated parcel machines and recruited over 700 people. It also launched a home delivery service that’s operated on bicycles. And last year, several major online retailers in Sweden, including Apoteket, Adlibris, Webhallen and Clas Ohlson, major Danish online retailer Matas, and Norwegian fashion chain the Varner Group joined the merchant list.
During 2020, nearly one in five Swedes used Instabox.
“During 2020, nearly one in five Swedes used Instabox. Usage has increased rapidly through a combination of the onboarding of several new online merchants, the consistent growth of environmental awareness and consumer preference towards more sustainable last mile delivery solutions, as well as a high share of returning users. We simply grew faster than we had expected”, CEO and co-founder Alexis Priftis says.
Instabox entered the Netherlands
Earlier this year, the Swedish logistics company raised over 73 million euros in an investment round in which EQT Ventures and previous investors, such as Creaded, participated. And in April, Instabox entered the Netherlands through the acquisition of Red je Pakketje.
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